Bring Your Business Goals Back Into Focus With These Strategies

Business as usual is no longer the case for many companies as the world changes. From market volatility to the potential for lower taxes or higher tariffs, the situation is dynamic. One constant in your company is you. Your determination and attention to detail, along with learned business savvy, are necessary tools you will need to lean on to avoid losing momentum and fading into the background as new innovators step into your rightfully earned space. Read on for strategies to keep your company focused on the next step forward.

Transform Procurement into a Strategic Business Function

Unless your company operates in a vacuum as an autonomous entity, your business needs will rely on other companies to continue providing products and services. Procuring raw materials to create what you sell is no longer like it was in the past – a friendly handshake with a neighbor you have known for years is neither strategic nor wise.

Move past what was done before and work toward transforming procurement into a strategic business function because that is exactly what it is. Consider this: If your raw materials are poorly sourced, too expensive, consistently delayed, or of subpar quality, then the final products that your company produces under its name will suffer the consequences of negative publicity and less-than sales.

Create a strategic and measurable shift using vetted procurement personnel with experience in your business vertical to source, negotiate, and procure materials within the confines of efficiency. This seemingly small move to how your company obtains its necessary materials is not like shopping at your local store and paying full price. It is about getting the best materials possible at the best price point to increase profit margins.

Review and Revise the Business Plan with Tactical Determination

Your company’s business plan is what started it all. It was necessary to secure funding from investors or a traditional bank. This plan was the backbone of your plans and goals. While it still is a major component of how you do business, it is probably time to review the content and bring it up-to-date.

Think of a business plan not as a one-and-done document or effort but as an active, living, and breathing part of the team’s core strategy. The plan initially showed your inner circle how you would begin doing business and what your goals and timelines consisted of. Now that time has passed, reviewing and revising your business plan will serve as a path forward.

This revision is an opportunity to look at whether you have achieved all of your goals and review what did and did not work. Were you able to maintain consistency? Were goals arrived at earlier than expected or delayed, and why? What are your next steps, and how will you obtain them? What is your new plan, and how can you incorporate it with the old one to maintain a clear vision and path forward? These are all questions, among others, that you and your C-suite should discuss to create a dynamic and updated business plan for the next phase in your business success. 

And, sometimes, it helps to start from scratch, on paper at least. Draw up your business plan as if you had just taken over your company. A fresh approach can lead to innovative ideas.

Bring Your Business Goals Back Into Focus With These Strategies

Open Conversations with the Frontline Team and Creators

Gone are the days when the company’s CEO is the only one making connections and making a difference in the company. In today’s world, everyone in your employ is a touchpoint for development, creativity, and fostering relationships.

Think about your customer service personnel. Some might consider them lower on the proverbial ladder. In fact, they represent your brand at every turn. With each keystroke or word spoken, they show the world what your company can offer and what it stands for. Take that in for a moment. Those interactions with customers and consumers of media matter. Talk with your customer service team. Ask them what pain points they learn through interactions with customers. Use that information to drive proactive change.

Have the same conversations with your team of creators. Inquire about the quality of sourced products, timelines, and development conceptualization. Ask them if they are supported. Talking with the people who create what you sell can impact your company significantly.

The competition out there is fierce, and it is not going away. You need to stay focused to stay in the game. By revisiting your company’s business plan and making strategic changes in how you procure goods, you are molding how you want your company to operate for success today and tomorrow. Change happens, no matter what, and if you can be an early adopter, your company will be better for it.

Bring Your Business Goals Back Into Focus With These Strategies